Consolidated  Report 


Minneapolis  Street  Railway  Company 


The  St.  Paul  City  Railway 


Balance  Sheet 


OF  THE 

Twin  City  Rapid  Transit  Company. 
••• 

1895. 

■ Slate  Historical  Society  \ 

OF  WISCONSIN 


VMADISON  - WIS. 


I 

f 


co*% 


vi 'ff'fjl  ^^///  ^/Y///)/Z  S'f'\ 

(2  ^///5rd,  Aug., 


Mr,  I.  S,  Bradley, 

Librarian,  The  State  Historical  Society  of  Wisconsin, 

Madison,  Wis. 

Dear  Sir: 

We  are  in  receipt  of  your  circular  under  date  of  July 
21st,  asking  for  reports  of  the  Minneapolis  and  The  St.  Paul  City 
Railway  Companies  from  1890  to  1896  inclusive. 

We  are  sorry  to  inforn  you  that  we  are  all  out  of 
reports  for  the  years  of  1890  to  1894  inclusive,  but,  under  sepa- 
rate cover,  we  send  you  Annual  Reports  of  the  Twin  City  Rapid 
Transit  Co.  for  1895  and  1896.  However,  by  referring  to  Page  16 
I of  the  '95  Rqport,  you  will  find  the  gross  earnings  from  1893  to 
I 1895  and  on  Page  13  of  the  '96  Report,  you  will  find  the  gross  earn 
\ ings  from  1893  to  1896  inclusive. 

Trusting  these  reports  will  be  perfectly  satisfactory,  I 
am. 


Yours  truly, 


Audi  tor. 


*9’ 


" > 


f . 


r . ' ' 

P 


Consolidated  Report 


OF  THE 


Minneapolis  Street  Railway  Company 


AND 


The  St.  Paul  City  Railway  Company 


ALSO 

Balance  Sheet 


of  the 


Twin  City  Rapid  Transit  Company. 

. • . 

•895. 


MINNEAPOLIS,  ST.  PAUL, 


MINNESOTA. 


yj]  Cg  k 


* 


Twin  City  Rapid  Transit  Company 


Officers. 


Thomas  Lowky 
C.  G.  Goodrich, 

W.  J.  Hield, 

J.  F.  Calderwood, 


President 

Vice  Pres’t,  Secretary  and  Treasurer 
General  Manager 
Auditor 


Directors. 

Thomas  Lowry,  Minneapolis,  Minn. 

C.  G.  Goodrich,  Minneapolis,  Minn. 

•Clinton  Morrison,  Minneapolis.  Minn. 
John  Kean,  Jr.,  Elizabeth,  N.  J. 

J.  Kennedy  Tod,  New  York. 

R.  J.  Cross,  New  York. 

James  Loeb,  New  York. 


^ \°)%oo 


Minneapolis  Street  Railway  Company 


Thomas  Lowry, 

C.  G.  Goodrich. 
M.  B.  Koon,  - 
J.  F.  Calderwood, 
Willard  J.  Hield, 


Officers. 


- Sec 


Directors. 


Thomas  Lowry.  C.  G.  Goodric 

Clinton  Morrison.  M.  B. 

Henry  F.  Brown. 

J.  F.  Galderwood. 


President 
Vice-President 
Treasurer 
darv  and  Auditor 
General  Manager 


Koon.  • 

A.  Z.  Levering 


6 


The  St.  Paul  City  Railway  Company 


Thomas  L o w k y , 

C.  G.  Goodrich, 

W.  R.  Merriam, 

A.  Z.  Levering, 

J.  F.  Calderwood, 
Willard  J.  Hield, 


Thomas  Lowry. 

A.  Z.  Leve 


Officers. 


Directors. 

C.  G.  Goodrich, 
ring. 


President 
Vice-President 
Treasurer 
Secretary 
Auditor 
General  Manager 


Clinton  Morrison. 


J.  F.  Calderwood. 


Auditing  Department. 


Minneapolis,  Minn.,  Janaury,  1896. 

Thomas  Lowry,  Esq., 

President. 

Dear  Sir: — I submit  herewith  consolidated  statements  of  the 
Minneapolis  Street  Railway  Co.  and  The  St.  Paul  City  Railway  Co., 
also  General  Balance  Sheet  of  the  Twin  City  Rapid  Transit  Co.,  for 
the  fiscal  year  ending-  December  31,  1895,  as  follows: 

“A”  Comparative  Statement  of  Gross  Earning-s,  1893-1894-1895. 
“B”  Comparative  Statement  of  Operations,  1893-1894-1895. 

“C”  Comparative  Statement  of  Earning-s  and  Expenses,  1893- 
1894-1895. 

‘ ‘D”  Expenditures  Account  of  Improvements  for  the  twelve  months 
ending-  December  31,  1895. 

“E”  Income  Account  for  1895. 

“F”  Surplus  Account,  December  31,  1895. 

“G”  Consolidated  Balance  Sheet  of  the  Minneapolis  Street  Rail- 
way Co.  and  The  St.  Paul  City  Railwa}"  Co.,  December 
31,  1895. 

“H”  General  Balance  Sheet  of  the  Twin  City  Rapid  Transit  Co., 
December  31,  1895. 

Special  Reports,  pag-e  28  and  29  inclusive. 

Respectfully  submitted, 

J.  F.  CALDERWOOD, 

Auditor . 


9 


Minneapolis,  Minn.,  Feb.  1st,  1896. 


To  the  Stockholders: 

On  behalf  of  your  Board  of  Directors  I submit  the  following- 
statements  and  reports  covering-  the  transactions  of  the  Twin  City 
Rapid  Transit  Company,  tog-ether  with  consolidated  statements  of 
the  Minneapolis  Street  Railway  Company  and  The  St.  Paul  City  Rail- 
way Company,  also  comparative  statements  for  the  fiscal  year  ending 
December  31st,  1895. 

EARN/MGS. 

The  gross  passeng-er  earning-s  for  the  fiscal  year  ending  Decem- 
ber 31st,  1895,  were  $1,964,772.65,  a decrease  of  of  1 per  cent,  as 
compared  with  1894.  The  miscellaneous  receipts  were  $24,030.79,  or 
an  increase  of  9f\7o  per  cent,  over  the  corresponding  period  of  1894. 

INTERURBAN  UNE. 

The  gross  passenger  receipts  of  the  Interurban  Dine  connect- 
ing the  business  centers  of  the  two  cities  were  $362,636.50  for  the 
fiscal  year  ending  December  31st,  1895,  an  increase  of  $9,621.70  over 
the  corresponding  period  of  1894. 

The  following  is  a comparative  statement  of  the  operations  of 
the  Interurban  Line: 

In  1891  the  gross  receipts  were  $252,078.60,  the  operating  was 
$111,058.00,  and  the  surplus  earnings  $141,020.60.  In  1895  the  gross 
receipts  were  $362,636.50,  the  operating  $120,209.00  and  the  surplus 
earnings  $242,427.50.  The  cost  of  operating  to  gross  earnings  in  1891 
was  44.06  percent,  and  in  1895,  33.15  per  cent.  The  gross  earnings 
per  car  mile  run  in  1892  were  26.72  cents,  in  1895,  32.42  cents.  The 
cost  of  operating  per  car  mile  run  in  1892  was  11.83  cents,  in  1895, 
10.75  cents. 

I refer  particularly  to  the  operations  of  the  Interurban  Line,  as 
it  is  the  most  prominent  factor  in  our  systejn. 


10 


OPERATING. 


The  per  cent,  of  general  operating  to  gross  earnings  for  the 
twelve  months  ending  December  31st,  1895,  is  43.10  as  against  44.91 
for  1894,  58.40  for  1893,  61.28  for  1892  and  59.59  for  1891. 

I wish  to  refer  briefly  to  the  following  comparative  statement 
of  the  cost  of  operating  for  the  years  1893,  1894  and  1895: 


General  Expense, 

Maintenance  of  Equipment, 

Mantenance  of  Way  and  Structure, 
Conductor’s  and  Motornien’s  wages, 
Inspectors  and  Transfer  Agents  wages, 
Conducting  Transportation,  Miscellaneo 
Cost  of  Maintaining  Power  Stations,  - 
Machine  Shop  Expense, 


1893. 

1894. 

1895. 

$ 94,281.09 

$ 61,162.07 

$ 56,934.02 

180,831.40 

103,349  91 

81,815.63 

98,930.65 

66,6C6.77 

58,069.49 

452,686.83 

369,597.97 

378,256.49 

27,252.32 

14,300.28 

8,859.13 

us  144,517.62 

90,638.92 

87,131.08 

229,357.67 

161,374.85 

154,103.73 

36,550.37 

22,999.99 

21,722.24 

$1,264,407.95 

$890,030.76 

$846,891.81 

:he  query  might  arise: 

Is  the  de- 

crease  in  the  various  items,  as  shown  above,  legitimate,  or  is  not  the 
physical  condition  of  the  property  being  allowed  to  deteriorate  in 
order  to  make  a favorable  net  showing? 

Referring  to  the  items  under  the  head  of  “General  Expense,” 


we  have  the  following: 

In  1893,  $94,281.09;  in  1894,  $61,162.07;  and  1895,  $56,934.02. 
The  large  reduction  of  1894  as  against  1893  comes  primarily 


from  two  sources: 


First:  A general  reduction  in  salaries  and  the  economy  re- 

sulting in  the  consolidation  of  the  two  systems  under  one  manage- 
ment. 


Second:  The  largest  difference  comes  from  the  saving  in  the 

cost  of  the  removal  of  snow  and  ice.  In  1893  this  item  alone  was 
over  $22,000,  in  1894  less  than  one-half  and  in  1895  less  than  one 
quarter. 

In  justification  of  the  reduction  in  the  “Cost  of  Maintenance 
of  Equipment”  I submit  a further  analysis  of  these  items: 


Repairs  to  Motors, 
Repairs  to  Car  Bodies, 


1893.  1894. 

$105,021.08  $ 66,054.79 

75,810.32  37,295.12 


1895. 

$48,527.45 

33,288.18 


11 


$180,831.40 


$103,349.91 


$81,815.63 


In  the  latter  part  of  1892  and  during-  1893  we  began  the  modi- 
fication of  our  entire  motor  equipment,  in  order  to  simplify  the  opera- 
tion, increase  the  efficiency  and  reduce  the  cost  of  maintenance.  This 
cost  of  modification  accounts  for  the  large  amount  charged  to  repairs 
to  motors  in  1893. 

The  reduction  of  1895  over  that  of  1894  is  legitimate,  due  to 
the  economy  resulting  from  the  simplification  of  construction  and  a 
reduction  in  the  cost  of  labor  and  price  of  material. 

In  1893  we  spent  $75,810.32  in  repairs  to  car  bodies.  A large 
part  of  this  was  the  expense  of  the  reconsi  ruction  of  our  horse  cars, 
increasing  their  length  and  adapting  them  to  electrical  use. 

The  decrease  in  the  “Maintenance  of  Way  and  Structure,”  of 
1894  over  1893,  is  the  result  of  our  rail  joint  construction,  begun  in 
1892  and  continued  vigorously  through  1893.  It  was  a special  joint 
construction  put  in  our  track  where  the  traffic  was  the  heaviest,  and 
the  results  have  been  most  satisfactory,  lessening  the  expense  not 
only  of  track,  but  also  of  rolling  stock  maintenance. 

The  reduction  of  the  “Wages  of  Conductors  and  Motormen” 
is  due  to  a general  reduction  made  at  the  beginning  of  1894. 

The  reduction  of  the  “Wages  of  Inspectors  and  Transfer 
Agents”  is  due  to  the  abolishing  of  Transfer  Agents,  and  placing 
the  issuing  of  transfers  in  the  hands  of  the  conductors. 

The  cost  of  “Conducting  Transportation,  Misc.,”  for  the  years 
1893,  1894  and  1895,  is  as  follows: 


1893,  -----  $144,517.62 

1894,  -----  90,638.92 

1895,  -----  87,131.08 

In  connection  with  the  above  I submit,  for  the  purpose  of 


analysis,  an  auxiliary  statement: 

Miscellaneous  Car  Expense, 

Station  Expense,  Eabor,  etc., 

Fuel  for  Cars  and  Stations, 

Electric  Fighting-  “Supplies,” 

Oil  and  Waste  for  Cars, 

Electric  Supplies  for  Cars, 

Stationery  and  Printing  for  Stations, 
Transfers  and  Transfer  Supplies, 
Strike,  Additional  Expense, 


1893. 

1894. 

1895. 

$32,917.18 

$23,128.52 

$23,075.50 

- 78,296.90 

45,652.69 

44,387.76 

- 15,909.77 

9,691.58 

8,952.27 

1,189.53 

969.37 

382.55 

3,550.19 

2,200.12 

2,171.93 

3,739.36 

3,149.50 

3,362.26 

2,300.98 

1,825.98 

1,863.14 

3,117.70 

3,493.16 

2,935.73 

3,496.01 

528.00 

$144,517.62 

$90,638.92 

$87,131.08 

12 


The  decrease  in  the  two  items,  “Miscellaneous  Car  Expense,” 
and  “Station  Expense,  Labor,  etc.,”  is  due  primarily  to  a reduction 
in  force  employed,  wages  paid,  consolidation  and  rearrangement 
of  the  methods  of  station  operation,  and  a general  reduction  in  the 
cost  of  material  used. 

The  conditions,  both  as  to  methods  of  operation  and  prices  of 
labor  and  material,  having  remained  stable,  the  variations  between 
the  totals  of  the  above  statement  for  1894  and  1895  are  very  slight. 

In  the  cost  of  “Maintaining  Power  Station”  1893  was  ab- 
normally high  as  compared  with  1894.  This  was  due  to  the  greater 
cost  of  fuel  and  the  necessity  of  our  operating  two  stations,  one  with 
high  speed  engines,  during  the  overhauling  of  station  No.  1.  We 
now  operate  the  entire  Minneapolis  system  from  one  station. 

The  saving  in  the  “Machine  Shop  Expense”  follows  as  the 
natural  result  of  the  above  economies. 

It  will  thus  be  seen  that  the  above  reductions  are  the  results  of 
improved  methods  of  electrical  construction  and  operation  resulting 
in  legitimate  economies  in  all  departments. 

MILEAGE. 

The  increase  in  the  mileage  is  due  chiefly  to  our  running 
“trailer  cars”  in  connection  with  our  motors,  giving  an  additional 
service  most  satisfactory  to  the  public.  One  conductor  and  one 
motorman  run  both  cars,  thus  doubling  the  mileage  without  increas- 
ing the  wages  of  trainmen.  This  addition  of  “trailer”  mileage 
adds  but  a mere  trifle  to  the  power  consumption,  and  wear  and  tear. 

FINANCIAL. 

We  have  sold  of  the  $3,000,000  authorized  of  the  Preferred 
Cumulative  Stock,  $1,135,200  at  par  with  accrued  interest  added, 
with  the  proceeds  of  which  we  have  liquidated  the  entire  floating 
debt  of  the  two  companies,  including  all  mortgage  notes,  excepting 
$1,500,000  of  the  six  per  cent,  certificates,  and  the  Company  has  pur- 
chased and  holds  in  its  treasury,  $270,000  of  the  remaining  $1,500,- 


13 


000  not  yet  due,  leaving-  a balance  outstanding-  of  $1,230,000.  On 
comparison  of  the  Annual  Reports  at  the  close  of  business,  Dec. 
31st,  1894  and  1895,  we  find  the  following-  results  as  to  receipts  and 
expenditures: 


To  Net  Earning-s  for  1895, 

To  Reduction  Current  Assets, 
Current  Assets  Due  Dec.  31,  1894, 

“ 31,  1895, 

To  Twin  City  Rapid  Transit  Co., 
Minneapolis  Street  Railway  Co  , - 
The  St.  Paul  City  Railway  Co.,  - 


$318,258.54 

209,986.72 

460,872.57 

334,766.60 


$258,479. 4b 
108.271.82 


795,639.17 


By  Improvements,  Paving-,  etc.,  - 
“ Reduction  6%  Certificate,  due  Jan. 

$153,090.85 

1,  1896.  ------ 

250.000.00 

“ Payment  Mortg-age  Notes, 
Minneapolis  Street  Railway  Co. , - 

$ 96,000.00 

113,500.00 

The  St.  Paul  City  Railway  Co., 
To  Reduction  Current  Liabilities, 

17,500.00 

240,799.60 

Current  Liabilities  Dec.  31,  1894,  - 

$622,825.27 

“ “ “ 31,  1895,  - 

382,025.67 

To  Amount  Paid  “Syndicate,”  under 

loan  contract,  - - 

405,000.00 

SL162, 390.45 

$1,162,390.45 

IMPROVEMENTS. 

There  has  been  charg-ed  to  the  various  improvement  accounts 
$153,090.85,  a brief  analysis  of  which  follows: 


New  building-  erected,  corner  of  Grant  and  Nicollet,  - - - - $ 2,211.13 

Amt.  paid  for  damage  to  property  adjoining-  our  Selby  ave.,  St.  Paul,  2,725.00 
Asphalt  paving  and  new  track  construction  in  connection  therewith, 

in  St.  Paul  and  Minneapolis,  --------  122,389.80 

Meters  for  power  house,  ----------  159.65 

New  car  steps,  - --  --  --  --  --  - 1,341.71 

New  car  trucks,  - - - - 754.58 

Safety  gates  on  cars,  ____  10,555.14 

Fenders  on  cars,  -----------  - 6,491.48 

Vestibuling-  balance  of  cars,  - - - - - - - - - 2,542.07 

One  large  lathe,  - --  --  --  --  --  - 1,565.30 

One  arc  dynamo,  -------  ----  - 3,400.00 

Chair,  5.00 


$154,140.8 5 

Eess  credits,  - - - 1,050.00 


$153,090. 85 


14 


The  largest  item  in  connection  with  the  above  expenditures 
on  account  of  improvements  is  the  “paving  and  track  construction” 
item  of  $122,380.80.  As  we  were  compelled  to  lay  asphalt,  and  in 
the  future  maintain  not  only  our  portion  of  the  track,  but  the  paving 
in  connection  therewith,  and  as  the  pavement  is  located  in  the  busi- 
ness portions  of  the  cities  where  the  traffic  is  the  heaviest,  it  seemed 
in  the  interest  of  economy  in  future  maintenance  to  put  in  an 
entirely  new  and  special  track  construction  which  would  last  for 
years,  with  little,  if  any,  additional  expense. 

The  major  portion  of  the  balance  of  the  expenditures  for  im- 
provements is  made  up  of  about  $18,000,  spent  in  equipping  our  cars 
with  fenders  and  automatic  gates;  the  saving  in  this  expenditure, 
although  we  have  not  had  the  use  of  the  gates  but  a part  of  1895,  has 
resulted  in  a saving  in  the  item  of  “Injuries  and  Damages,”  as  shown 
by  the  foregoing  statements,  and  during  the  present  year  will  save 
us  more  than  twice  the  total  cost. 


Respectfully  submitted, 

Thomas  Lowry, 

President. 


15 


A 


Minneapolis  Street  Railway  Co. 


The  St.  Paul  City  Railway  Co 


COMPARATIVE  STATEMENT  OF 


GROSS  EARNINGS. 

1893-1894-1895. 


Consolidated  Report. 


1893. 

1894. 

1895. 

January, 

$ 166,455.63 

$ 147,191.71 

$ 152,031.65 

February, 

148,110.32 

131,838.78 

134,895.85 

March, 

179,606.88 

153,768.25 

150,231.35 

April, 

180,525.93 

152,265.40 

152,915.85 

May, 

204,560.41 

168,098.10 

164,006.55 

June, 

208,810.65 

180,871.30 

171,221.60 

July, 

217,913.62 

190,505.25 

176,626.10 

August, 

193,071.30 

181,652.65 

178,511.40 

September, 

178,030.40 

177,307.30 

185,845.90 

October, 

169,108.96 

168,554.30 

167,402.10 

November, 

158,409.46 

161,259.65 

162,666.15 

December, 

160,321.75 

168,392.95 

168,418.15 

Total, 

$2, 164, 925.31 

$1,981,705.64 

$1,964,772.65 

Decrease  per  cent., 

- 

08.46 

00.85 

16 


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Machine  Shop  Expense,  - - 36,550.37  22,999.99  21,722.24 

Total,  - - - $1,264,407.95  $890,030.76  $846,891.81 


City  Rapid  Transit  Company 

1893-4-5. 


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18 


“D” 


Minneapolis  Street  Railway  Co. 

The  St.  Paul  City  Railway  Co. 


CONSOLIDATED  STATEMENT  OF 

EXPENDITURES 

ACCOUNT  OF  IMPROVEMENTS 

Twelve  Months  Ending-  December  31,  1895. 


Real  Estate  and  Building’s, 

- 

$ 4,011.13 

Construction,  Roadway  and  Track, 

- 

125,949,44 

Equipment,  - 

- 

21,684.98 

Machinery  and  Tools, 

- 

1,565.30 

Furniture  and  Fixtures, 

- 

5.00 

$153,215.85 

LESS  Live  Stock,  Cr., 

- 

125. 00 

$153,090.85 

19 


“E" 


ninneapolis  Street  Railway  Co. 

The  St.  Paul  City  Railway  Co. 


CONSOLIDATED  STATEMENT  OF 

INCOHE  ACCOUNT. 


Twelve  Months  Ending-  December  31,  1895. 


OPERATING  EXPENSE, 

General  Expense, 

Maintenance  of  Equipment, 

Maintenance  of  Way,  - 
Conductors’  and  Motormen’s  Wag-es, 
Inspectors’  and  Transfer  Ag-ents’  Wag-es, 
Station  Expense,  - 

Power  Station  Expense, 

Machine  Shop  Expense, 

Insurance  Apportioned  for  the  Year,  - 
Injuries  and  Damag-es,  - 
Leg-al  Expense,  - 
Conting-ent  Expense,  - 


$ 56,934.02 
81,815.63 
58,069.49 
378,256.49 
8,859.13 
87,131.08 
154,103.73 
21,722.24 
13,637.96 
80,890.99 
14,925.02 
23,139.15 


Dr. 

$979,484.93 


INTEREST  AND  TAXES,  - - 750,839.05 

Taxes  Apportioned  for  the  Year,  - 49,071.11 

Interest-Coupon  and  Current  Liabilities,  701,767.94 


SURPLUS  INCOME,  1895,  - - 258,479.46 


20 


$1,988,803.44 


“E” 


flinneapolis  Street  Railway  Co. 

The  St.  Paul  City  Railway  Co. 


CONSOLIDATED  STATEMENT  OF 

INCOiTE  ACCOUNT. 


Twelve  Months  Ending-  December  31,  1895. 


Ch. 

PASSENGER  EARNINGS,  - - - $1,964,772.65 

MISCELLANEOUS  EARNINGS,  - - - 24,030.79 


21 


“r” 


Jlinneapolis  Street  Railway  Co. 

The  St.  Paul  City  Railway  Co. 


CONSOLIDATED  STATEMENT  OF 

SURPLUS  ACCOUNT. 


December  31,  1895/ 


Dr. 

January  1st,  1896,  Balance  Carried  to  1896,  - $1,0S6,051.34 


$1,086,051.34 


22 


“ F" 


Minneapolis  Street  Railway  Co. 

The  St.  Paul  City  Railway  Co. 

CONSOLIDATED  STATEMENT  OF 

SURPLUS  ACCOUNT. 


December  31,  1895. 


January  1st,  1895,  By  Balance,  - 
December  31st,  1895,  Net  Income  for  1895, 


Cr. 

$ 827,571.88 
258,479.46 


$1,086,051.34 


CONSOLIDATED 

GENERAL  BALANCE  SHEET. 

December  31,  1895. 


ASSETS. 

ROADWAY,  Equipment,  Real  Estate  and  Buildings, 

Machinery,  Tools  and  Fixtures,  - $23,851,729.46 


CURRENT  ASSETS,  - - $ 209,986.72 

Notes  and  Accounts  Receivable,  $84,945.69 

Cash  in  Banks  and  on  Hand,  - 31,476.42 

Insurance  paid  in  advance,  - 8,893.63 

F armers’  Loan  & Trust  Co.,  Coupons 

paid  but  not  returned,  - 34,490.00 

Material  and  Supplies,  - - 50,180.98 


24 


“ G ” 


CON  SOL/ DA  TED 

GENERAL  BALANCE  SHEET. 

December  31,  1895, 


LIABILITIES. 


CAPITAL  STOCK, 

FLNDED  DEBT,  AND  6 PER  CENT. 
CERTIFICATES,  - 

MINNEAPOLIS  division: 

1st  Mtg.  Bonds,  7 per  cent,  due  1910, 

2d  Mtg.  Bonds,  6 per  cent,  due  1913, 
1st  Consolidcited  Mortgage  Bonds,  5 per 
cent,  due  1919,  - 

Six  per  cent  Certificates,  due  1898, 

ST.  PAUL  division: 

1st  Mortgage  and  1st  Consolidated 
Mortgage  Bonds,  6 per  cent,  due 
1932-1934,  respectively, 

Cable  Consolidated  Mortgage  Bonds, 
5 per  cent,  due  1937, 

Debenture  Mortgage  Bonds,  6 per  cent, 
due  1900,  - 

6 per  cent  Certificates,  due  1898, 

CURRENT  LIABILITIES,  - 
Unpaid  Vouchers  and  Accounts, 

Pay  Rolls  accrued  and  not  due, 
Trainmen’s  Deposits,  - 
Taxes  accrued  and  not  due, 

Accounts  subject  to  adjustment, 
Interest  on  Funded  Debt  accrued  and 
not  due,  - 

Interest  on  Funded  Debt  paid,  but  cou- 
pons not  returned,  - 


$10,000,000.00 

11,798,000.00 

$ 350,000.00 
600,000.00 

4,050,000.00 

750,000.00 

$5,750,000.00 


680,000.00 

3.618.000. 00 

1.000. 000.00 
750, 00 n 00 

$6,048,000.00 

$ 382,025.67 

$ 48,420.10 
24,592.60 

20.675.00 
46,411.87 

1,427.76 

206,008.34 

34.490.00 


TWIN  CITY  RAPID  TRANSIT  CO., 
Minneapolis  Street  Railway  Co., 

The  St.  Paul  City  Railway  Co., 


$ 795,639.17 

$460,872.57 

334,766.60 


INCOME  ACCOUNT,  SURPLUS, 


$ 1,086,051.34 


TOTAL  LIABILITIES, 


$24,061,716.18 


25 


“H  ” 


Twin  City  Rapid  Transit  Company. 


GENERAL  BALANCE  SHEET. 


1895. 


ASSETS. 


SECURITIES  IN  THE  TREASURY 
(Value),  - 

MINNEAPOLIS  STREET  RY.  CO. 
(6  per  cent.  Certificates  Guaran- 
teed), - 

THE  ST.  PAUL  CITY  RY.  CO. 
6 per  cent.  Certificates  Guaran- 
teed, - 

5 percent  Cable  Bonds,  Guaranteed, 

6 per  cent  Debenture  Bonds,  “ 

SUNDRY  ACCOUNTS, 
MINNEAPOLIS  STREET  RY.  CO. 

(Money  Advanced), 

THE  ST.  PAUL  CITY  RY.  CO. 

( Mone}r  Advanced), 


$15,270,000.00 


750,000.00 

2,469,000.00 


$ 750,000.00 
1,138,000.00 
581,000.00 

79,560.83 

460,872.57 

334,766.60 

$19,364,200.00 


26 


“H” 


Twin  City  Rapid  Transit  Company. 


GENERAL  BALANCE  SHEET. 


1895. 


LIABILITIES. 


CAPITAL  STOCK, 
Common  Stock, 
Preferred  Stock, 


$16,1.45,200.00 

- $15,010,000.00 

1,135,200.00 


GUARANTEED  6 PER  CENT.  CER- 
TIFICATES, - 
Minneapolis  Street  Ry.  Co. 

The  St.  Paul  City  Ry.  Co. 


1,500,000.00 

$750,000.00 

750,000.00 


GUARANTEED  BONDS,  - 
The  St.  Paul  City  Ry.  Co.’s, 

5 per  cent  Consolidated  Cable, 

6 per  cent  Debenture  Bonds,  - 


1,719,000.00 


$1,138,000.00 

581,000.00 


$19,364,200.00 


HISTORY. 


The  Twin  City  Rapid  Transit  Company  Controls  and  operates 
the  entire  street  railway  lines  in  the  cities  of  Minneapolis  and  St. 
Paul,  by  virtue  of  having-  acquired  the  stock  of  the  original  or  con- 
stituent companies,  known  as  the  Minneapolis  Street  Railway  Com- 
pany, The  St.  Paul  City  Railway  Company  and  the  Minneapolis, 
Lyndale  and  Minnetonka  Railway  Company. 

Capital  Stock. 

The  Twin  City  Rapid  Transit  Company  was  duly  org-anized 
June  3d,  1891,  under  the  laws  of  the  State  of  New  Jersey, 
with  a capital  of  $20,000,000,  of  which  $17,000,000  is  Common 
Stock,  and  $3,000,000  is  7 per  cent  Cumulative  Preferred  Stock. 

Of  the  Common  Stock,  there  has  been  issued  $15,010,000, 
leaving-  a balance  in  the  Treasury^  of  SI, 990, 000. 

Of  the  Preferred  Stock,  there  has  been  issued  and  sold 
$1,135,200,  leaving-  a balance  in  the  Treasury  of  $1,864,800. 

The  interest  is  payable  quarterly,  at  the  fixed  rate  of  1%  per 
cent,  on  January,  April,  July  and  October. 

For  the  Preferred  Stock,  it  is  provided  that  if  in  any  year 
dividends  amounting-  to  7 per  cent  are  not  paid  on  said  stock,  the 
deficiency  shall  be  a charg-e  upon  the  net  earning-s  of  the  Com- 
pany, and  shall  be  paid  subsequently  before  any  dividend  shall 
be  paid  upon  or  set  apart  for  the  Common  Stock. 

Franchises. 

The  franchises  of  the  underling  companies  g-ranted  by  the 
respective  cities  are  exclusive,  and  have  been  confirmed  by  the 
legislature  of  the  State  of  Minnesota. 

Fare. 

The  rate  of  fare  is  irrevocable,  fixed  by  both  the  city  and 
the  legislature,  at  live  cents  per  passenger. 

Tracks. 

The  company  has  225  miles  of  track,  of  which  six  miles  is. 
cable,  and  219  is  operated  by  electricity. 

The  rails  are  of  the  “T”  and  Girder  pattern,  ranging  in 
weight  from  45  to  78  pounds. 

The  lines  extend  in  all  directions  and  occupy  the  principal 
streets  in  such  a manner  as  to  practically  exclude  competition, 
even  if  the  franchises  were  not  exclusive. 


28 


I 

TWIN  CITIES. 

MINNEAPOLIS.  >895.  ST.  PAUL. 


Population,  - 

Number  of  Railways, 

Railway  Mileage  Represented, 

Number  of  Manufacturing  Establishments, 
Number  of  Employes  in  same, 

Value  of  Manufactured  Product, 

Barrels  of  Flour  Made, 

Daily  Flour  Mill  Capacity  (barrels ) - 

Flour  Exports  (barrels) 

Value  Flour  Products, 

Elevator  Capacity  (bushels) 

Bushels  Wheat  Received, 

Volume  of  Grain  Trade  (bushels) 

Number  of  Feet  of  Lumber  Manufactured,  - 
Value  of  Lumber  Products, 

Lumber  Shipments  (feet ) 

Jobbing  Trade,  - 

Postal  Receipts,  - - - 

Death  rate  per  1,000  population,  - 
Number  of  School  Houses, 

School  Attendance, 

Number  of  Churches,  - 
Miles  of  Electric  Railway, 

Number  of  Acres  in  Park  System, 

Bank  Clearings,  - 
Directory  Names,  - 

Fruit  Receipts  (pounds) 

Assessed  Valuation,  - 


400,000 

19 

40.000 
6,100 

51.000 

$202,000,000 

- 12,581,635 

64,800 

3,580,000 

44,000,000 

- 34,785,000 
86,900,000 

- 92,284,870 
579,102,123 

- $11,000,000 
446,510,000 

$333,000,000 

$912,616 

9.19 

96 

53.000 
346 
225 

2,152 

$700,000,000 

177,712 

150,000,000 

$259,031,961 


29 


t 


